Market Size of Asia-Pacific Power Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 4.36 terawatt |
| Market Volume (2029) | 5.84 terawatt |
| CAGR (2024 - 2029) | 6.04 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Power Market Analysis
The Asia-Pacific Power Market size is estimated at 4.36 terawatt in 2024, and is expected to reach 5.84 terawatt by 2029, growing at a CAGR of 6.04% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing demand for electricity in residential, commercial, and industrial segments and the governmental push towards the adoption of renewable energy sources coupled with rising investment in the power sector are expected to drive the market.
- On the other hand, a huge investment that is required for setting up and modernizing of power generation, transmission and distribution network, and weak private sector investment along with the plans to shut down coal-fired power plants are expected to impede the growth of the market.
- Nevertheless, new models of solar cells made of a thin film technology that uses thin coatings of cadmium telluride in solar cells, which has higher efficiency and lower cost, may prove to be an opportunity in the sector.
